Non-Resident External (NRE) Account

Tax Glossary Definition

Non-Resident External (NRE) Account

A rupee-denominated bank account opened in India by a Non-Resident Indian (NRI) to deposit income earned abroad. Both the principal and the interest earned on such accounts are freely repatriable and fully exempt from income tax in India. Example: Interest of ₹1 lakh earned on an NRE fixed deposit is completely tax-free under Indian tax laws.

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